Micromax Energy eyes 10 per cent market share in lithium-ion batteries

Micromax Energy, an independent firm and part of Micromax Group, is aiming 8-10 per cent market share of the lithium-ion battery market in India — which is at a nascent stage — by next year.

The company has been manufacturing lead acid batteries too, but is now focussing on the lithium-ion batteries as the market for electric vehicles, particularly as the three-wheeler segment is growing at a multi-fold level.

“This year was the beginning of the trials and a lot of people coming in…but in 2020, we are targeting 8-10 per cent of the total market. Next year will be a big market for the lithium-ion batteries in India,” Sunil Bhatnagar, Country Head – Energy Division, Micromax Energy, told BusinessLine.